Government unveils details of first home buyers scheme

Discussion in 'Property Market Economics' started by Alex123711, 28th Oct, 2019.

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  1. Alex123711

    Alex123711 Well-Known Member

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    28th Dec, 2017
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    Sydney
    Using the median price to determine the caps seems a bit strange to me, would have liked to see a flat rate, also looks like it will be more applicable to units than houses especially for cities as houses under those caps would be hard to find.
     
  2. Maximus

    Maximus Active Member

    Joined:
    4th Aug, 2019
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    Location:
    Sydney
    Well the first home buyers deposit scheme is more to help developers sell their units to young kids who havent got the discipline to save a proper deposit.
    Its not really going to help first home buyers, it will help the developers as well as the banks while potentially inflating the price of properties below the applicable cap.
    Since ive waited this long im curious to see if i can pay a 5% deposit and put the rest into an offset account, the full details of the scheme are yet to be released so im not sure if im allowed to do this.
     
    Brady likes this.